Spirit AeroSystems (NYSE:SPR) Shares Gap Down – Here’s Why

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) gapped down prior to trading on Friday . The stock had previously closed at $32.53, but opened at $31.50. Spirit AeroSystems shares last traded at $32.10, with a volume of 573,226 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPR. StockNews.com began coverage on shares of Spirit AeroSystems in a research note on Sunday, November 24th. They issued a “sell” rating for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Stock Performance

The company has a market cap of $3.78 billion, a price-to-earnings ratio of -2.61 and a beta of 1.84. The business’s 50 day moving average price is $32.08 and its 200-day moving average price is $32.78.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -12.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Large investors have recently made changes to their positions in the company. Byrne Asset Management LLC bought a new stake in Spirit AeroSystems during the 2nd quarter worth about $30,000. Waldron Private Wealth LLC bought a new stake in Spirit AeroSystems during the 3rd quarter worth about $32,000. Quest Partners LLC bought a new stake in Spirit AeroSystems during the 3rd quarter worth about $49,000. Quarry LP grew its holdings in Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after acquiring an additional 751 shares during the last quarter. Finally, KBC Group NV grew its holdings in Spirit AeroSystems by 20.1% during the 3rd quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock worth $150,000 after acquiring an additional 771 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.